Rentberry is a decentralized rental ecosystem that uses blockchain technology to make the process of renting a property more convenient, secure, and less costly. According to the website, Rentberry is a real estate platform that offers a digital rental journey. The transparent ecosystem, including information about the renters and landlords, is intended to strengthen the trust between parties. The property auctioning technology of the project aims to improve the traditional renting process, which includes frustrating methods, scam-like rates, and time delays. Moreover, the project intends to offer the ability for community members to help back quality tenants.
According to the whitepaper, the long-term rental space still lacks comparable innovation. There is a requirement to update the process and disrupt the technology to make the renting process better. The project’s mission is to provide a solution that is equally efficient for residents across international borders. The global practice still includes print publication and advertisements, calling and emailing prospective tenants, and screening applicants manually. Rentberry aims to change the traditional way of the rent process.
The project aims to eliminate the broker model by allowing landlords and tenants to complete all the rental formalities in a direct peer-to-peer way. The project further aims to establish a uniform international standard procedure for renting that benefits migrants living in other countries for work purposes. The project additionally supports a crowdsourcing rental deposit network that allows tenants to reduce the amount of their rental deposits. Rentberry also includes facilities such as searching for properties, making offers, negotiating the terms, signing e-contracts, paying rent, submitting maintenance requests, and more around renting.
The token, BERRY, is the native cryptocurrency of the Rentberry project. BERRY is a utility token. This means that all the transactions on the Rentberry are done by BERRY token only. The tenant uses BERRY to pay rent on the Rentberry, which reduces the risk of fraudulent activities. The users and landlords use the BERRY token to use other different services on the portal. The tenant can further pay bills through the BERRY token on the portal itself. The project works on the Ethereum blockchain, and the BERRY token supports ERC-20 token standards.
